The soap giant known as the Procter & Gamble Company (NYSE:PG) reported fourth quarter fiscal year 2019 net sales of $17.1 billion, an increase of 4% versus the prior year.
The Cincinnati-based company says, excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 7%, driven by a 3% increase in organic volume.
Diluted net loss per share was $2.12, down $2.84 versus the prior year due primarily to one-time, non-cash accounting adjustments to the carrying values of the Gillette Shave Care business.
Core earnings per share increased 17% to $1.10 driven by strong organic sales growth and core operating margin expansion. Currency-neutral core EPS increased 26% versus the prior year.
The Company generated $4.2 billion of operating cash flow in the quarter, with adjusted free cash flow productivity of 122%.
Said CEO David Taylor, "We built sales, market share and profit margin momentum throughout the year, ending with our strongest quarter of organic sales growth in well over a decade.
"Looking ahead, we will continue to focus on superiority, productivity, constructive disruption and improving P&Gās organization and culture to deliver sustainable, balanced top-line and bottom-line growth along with strong cash generation in a challenging competitive and macroeconomic environment."
The Company said it expects fiscal year 2020 all-in sales growth in the range of 3-4% versus the prior fiscal year. The estimate includes a modest negative impact from foreign exchange, which is largely offset by a positive net impact from acquisitions and divestitures. P&G expects organic sales growth in the range of 3-4%
Shares jumped $4.15, or 3.6%, to $120.15.
